Since October 1, 2010, there has been no federal budget due to all the bail-outs and stimulus money needed to help get our economy back on track. On February 28 of this year, the House of Representatives passed a two-week extension with four billion in cuts, most of which were from programs Obama has set forth in the past three years. Some of these programs include national parks and electricity. As of now, Congressional aids say there most likely is going to be one more extension.

    President Obama released his proposed budget for the year of 2010 on February 14, 2011. The budget calls for $3.7 trillion in spending for the year that begins on October 1, 2011 with an estimated deficit of $1.1 trillion. Government shortfalls are projected to drop to “manageable” levels for the rest of the decade.

   Obama’s plan of cutting and investing has started to help lower the federal debt. For some, this could be very profitable; for many though, there could be big losses. He’s going to cut domestic programs and start investing a lot of that “man power” and money in education, infrastructure, clean energy, innovation, and research to promote long-term economic growth.

   As of now, the government is said to cut the budget by one-third percent, taking certain amounts of funding and loan cuts from different places. Even with this amount of cutting, it would take ten years to just get us back to a stable deficit. We are now in a huge hole and the government is continuing to postpone the final budget. For now though, it is severely hurting the economy and this country as a whole.